The FCC under Brendan Carr has approved three sovereign wealth funds from Saudi Arabia, Qatar, and Abu Dhabi to collectively own 49.5 percent of Paramount, effectively waiving its 25 percent foreign equity cap.
The decision marks a significant shift in the agency's regulatory stance. Carr's FCC has previously taken aggressive action against domestic media outlets—threatening ABC, blocking stations from airing Democratic interviews, and censoring late-night hosts.
The approval allows the Saudi Public Investment Fund, Qatar Media Corporation, and the Abu Dhabi Investment Authority to proceed with their stake in the Paramount-Warner Bros. merger. The move bypasses longstanding foreign ownership restrictions designed to protect U.S. media independence.
The contrast between the FCC's stricter scrutiny of domestic programming decisions and its permissive approach to foreign government investment raises questions about regulatory priorities. Carr's agency has positioned itself as a content watchdog while simultaneously opening doors to substantial foreign control of major U.S. media assets.
The ruling comes as the media industry navigates unprecedented consolidation and foreign capital flows into American entertainment properties.
The FCC has approved Gulf state wealth funds acquiring nearly 50% ownership of the merged Paramount-Warner Bros. entertainment company. The decision clears a major regulatory hurdle for the deal.
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